PLAYSTUDIOS (NASDAQ:MYPS) Downgraded to “Strong Sell” Rating by Zacks Research

PLAYSTUDIOS (NASDAQ:MYPS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of PLAYSTUDIOS in a report on Wednesday. Benchmark lowered their price objective on shares of PLAYSTUDIOS from $2.00 to $1.50 and set a “speculative buy” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $2.00.

PLAYSTUDIOS Stock Up 5.6%

Shares of NASDAQ MYPS opened at $0.80 on Thursday. The company has a market capitalization of $100.26 million, a PE ratio of -2.76 and a beta of 0.87. The stock’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.16. PLAYSTUDIOS has a twelve month low of $0.74 and a twelve month high of $2.29.

PLAYSTUDIOS (NASDAQ:MYPS) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). PLAYSTUDIOS had a negative return on equity of 8.66% and a negative net margin of 15.10%.The business had revenue of $57.65 million for the quarter, compared to the consensus estimate of $58.77 million. PLAYSTUDIOS has set its FY 2025 guidance at EPS. As a group, research analysts expect that PLAYSTUDIOS will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On PLAYSTUDIOS

Hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its stake in PLAYSTUDIOS by 118.5% in the 1st quarter. Mackenzie Financial Corp now owns 575,737 shares of the company’s stock worth $731,000 after purchasing an additional 312,286 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of PLAYSTUDIOS by 1.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 723,424 shares of the company’s stock worth $919,000 after purchasing an additional 9,517 shares during the period. Nuveen LLC purchased a new stake in shares of PLAYSTUDIOS in the first quarter worth $277,000. Ieq Capital LLC bought a new stake in PLAYSTUDIOS during the first quarter valued at $97,000. Finally, NewEdge Advisors LLC boosted its stake in PLAYSTUDIOS by 5,260.6% during the first quarter. NewEdge Advisors LLC now owns 134,015 shares of the company’s stock valued at $170,000 after buying an additional 131,515 shares during the period. Hedge funds and other institutional investors own 37.52% of the company’s stock.

PLAYSTUDIOS Company Profile

PLAYSTUDIOS, Inc develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally. The company's game portfolio includes a diverse range of titles comprising social casino, card, puzzle, and adventure games. It also offers POP! Slots, myVEGAS Slots, my KONAMI Slots, MGM Slots Live, myVEGAS Blackjack, myVEGAS Bingo, Tetris, Solitaire, Spider Solitaire, Jumbline 2, Sudoku, and Mahjong games.